Provident Financial Services, Inc (PFS) financial statements (2022 and earlier)

Company profile

Business Address 830 BERGEN AVENUE
JERSEY CITY, NJ 07306
State of Incorp. DE
Fiscal Year End December 31
SIC 6035 - Savings Institutions, Federally Chartered (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments686533188143191144102
Cash and cash equivalents685532187143191144102
Short-term investments1111   
Total current assets:686533188143191144102
Noncurrent Assets
Operating lease, right-of-use asset494142
Property, plant and equipment81765558638489
Intangible assets, net (including goodwill), including:464444422414415416417
Goodwill444443421412412412412
Intangible assets, net (excluding goodwill)3123356
Other undisclosed intangible assets, net (including goodwill)17      
Total noncurrent assets:594561519472478500506
Other undisclosed assets12,50111,8259,1029,1109,1768,8568,303
TOTAL ASSETS:13,78112,9209,8099,7269,8459,5008,912
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt435854550723533471512
Total current liabilities:435854550723533471512
Noncurrent Liabilities
Other undisclosed liabilities11,64910,4467,8457,6448,0147,7777,204
Total liabilities:12,08411,3008,3958,3678,5478,2497,716
Stockholders' equity
Stockholders' equity attributable to parent1,6971,6201,4141,3591,2991,2521,196
Common stock1111111
Treasury stock, value(80)(59)(269)(272)(260)(264)(269)
Additional paid in capital9709621,0071,0221,0131,0061,001
Accumulated other comprehensive income (loss)7184(12)(7)(3)(3)
Retained earnings815718695651586551508
Unearned esop shares(15)(20)(25)(30)(34)(38)(42)
Total stockholders' equity:1,6971,6201,4141,3591,2991,2521,196
TOTAL LIABILITIES AND EQUITY:13,78112,9209,8099,7269,8459,5008,912

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues12310310199120111105
Net investment income1139910199938578
Financial services revenue272627
Cost of revenue (30)(13)(24)(6)(6)(5)
Provision for loan, lease, and other losses (30)(13)(24)
Financial services costs(6)(5)(4)
Gross profit:123738875115105101
Operating expenses(57)(52)(47)(44)(152)(148)(143)
Other operating income, net
(Noninterest Income, Other Operating Income)
29272221466
Operating income (loss):96476453(34)(36)(36)
Nonoperating income
(Bank Owned Life Insurance Income)
8666755
Interest and debt expense(36)(51)(73)(59)(46)(44)(42)
Other undisclosed income from continuing operations before equity method investments, income taxes 124151144213199193
Income from continuing operations before equity method investments, income taxes:67128147144140125120
Other undisclosed income from continuing operations before income taxes160      
Income from continuing operations before income taxes:227128147144140125120
Income tax expense(59)(31)(34)(26)(47)(37)(36)
Net income available to common stockholders, diluted:16897113118948884

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:16897113118948884
Other comprehensive income (loss)(11)1416(5)(3)(1)(3)
Comprehensive income, net of tax, attributable to parent:157111129114918781

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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